Entrepreneurship

Discussion point: How many of you (in the classroom) intend to be entrepreneurs at some point in their life. How confident you are that they will succeed – use a scale of 1 to 10. Why? For those with lower scores, ask what they might do to be able to increase their confidence.

Entrepreneur in Action: Beth Cross took on the established cowboy boot market and in just more than 10 years has sales of $80 million and owes nearly 17% of the western wear market. How did she do it? Here’s her four rules for success:
1. Find the market’s blind spot. The boot market hadn’t really changed in years and wasn’t taking advantage of the latest technologies.
2. Make friends in high places. Cross was able to get a high level Reebok executive on her board.
3. Pay less, charge more. Cross was able to outsource most of her labor and was able to charge more for her patented technologies.
4. Create your own demand. As a start up she had no marketing budget and took the boots to horse shows and rodeos in her car. (Copeland, Michael V. “These Boots Really Were Made for Walking” Business 2.0, October 2004 pg. 72 http://money.cnn.com/magazines/business2/business2_archive/2004/10/01/8186646/index.htm

Discussion point: Poll the class to see how many have parents or other relatives that are role models. Are there other role models they use as well?

Discussion point: Ask students to rank themselves on the characteristics mentioned in this section. Discuss in small groups, the areas where they are weaker, and their action plan to improve?

Discussion point: A scan of the business section of your local newspaper often provides specific examples of larger corporations that are trying to be more entrepreneurial.

Discussion point: Have any students begun their support networks? Who do they now…...

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...[pic]
1a.
Entrepreneurship is the dynamic process of vision, change and creation to discover new way of combining resources to create new firms. It is being carried out when the entrepreneur found some undiscovered market, unsolved problems, new technology or new form for firms and they set up new business to serve the particular market or solve it. Entrepreneurship involves in business activities which gain social and financial benefits or profits by bearing uncertainty and risk.
1b.
There are ten myths of entrepreneurship consists of entrepreneurs are doers, not thinkers, entrepreneurs are born, not made, entrepreneurs are always inventors, entrepreneurs are academic and social misfits, entrepreneurs must fit the profile, all entrepreneurs need is money, all entrepreneurs need is luck, entrepreneurship is unstructured and chaotic, most entrepreneurial initiatives fail and entrepreneurs are extreme risk takers….the gamblers.
Myth 1: Entrepreneurs are doers, not thinkers
Although people see entrepreneurs as someone who dare to do something without considering the risk, but actually entrepreneurs do think before they take action or make decision. Entrepreneurs usually spend time to think of the new invention, new market from the daily problems or experience. Once they discovered there is opportunity to start the business to serve the need, they actually produce clear and complete business plan before they involve in the business. They have carefully......

...intrapreneurship as “behaving like an entrepreneur when you’re employed at a large corporation for the benefit of the corporation as a whole” and believed that being appointed as an intrapreneur before giving a shot at entrepreneurship is a great method developing management skills and techniques before stepping into the entrepreneurial world. Apart from just a set of skills and great techniques there are also personality and character qualities that make up a successful intrapreneur or entrepreneur. “The most successful are risk takers who are driven by a vision of something that is better in the world,” Pinchot says. “They are honest and use a balance of intuition and analysis to make their decisions.”
Other scholars have defined intrapreneurship in many different of ways. Expressions such as corporate entrepreneurship (Burgelman, 1983, Vesper, 1984; Guth and Ginsberg, 1990; Hornsby et al., 1993, Stopford and Baden-Fuller, 1994), corporate venturing (MacMillan, 1986; Vesper, 1990), and internal corporate entrepreneurship (Schollhammer, 1981, 1982; Jones and Butler, 1992) have been used to describe the phenomenon of intrapreneurship (Antonic and Hisrich, 2001). Recently, Antoncic and Hisrich, (2001:497) have defined intrapreneurship more broadly as “entrepreneurship within an existing organization.”
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Introduction: The origin and development on theory
As early as the 17th century, the French term "entreprendre "appeared in economics, which evolved into "entrepreneur" as commonly used (Dees,1998). The concept of entrepreneur keeps on developing and varies with the development of socio-economics. Richard Cantillon published his in 1775 “Essay on the Nature of Trade in General" (Murphy,1986). Since then, entrepreneurship was given a definition in the perspective of behavior, including decision-making, sound judgment, supervision of production, innovation, and resource reallocation (Herron, 1993). The new definition of the "entrepreneur" credited by French economists was put by Jean Baptiste in the 19th century "the entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield". In this time, entrepreneurship was given the meaning of "creating values"(Dees, 1998).
In 1911, “entrepreneur as innovator” was put forward by Schumpeter. In his theory, entrepreneurship nearly the same as innovation is thought to be a critical factor in the promotion of economic development. This theory was unceasingly completed by Schumpeter. Through the process of “disruptive innovation” (Schumpeter, 1942), entrepreneurs create economic opportunities and obtain economic benefits by......

...1
LESSON- 1
ENTREPRENEUR AND
ENTREPRENEURSHIP
Dr. Jyotsna Sethi
STRUCTURE
1.0 Introduction
1.1 Objectives
1.2 Entrepreneurship as a Career Option
1.3 Concepts and Definitions
1.3.1 Entrepreneur
1.3.2 Entrepreneurship
1.3.3 Enterprise
1.3.4 Difference between Entrepreneur and Entrepreneurship
1.4 Role of Entrepreneurship in Economic Development
1.4.1 Entrepreneurship and Economic Development
1.4.2Entrepreneurship and Education
1.5 Functions of an Entrepreneur
1.6 Innovation
1.7 Risk and Uncertainty Bearing
1.8 Organization
1.9 Functions Performed by an Imitator Entrepreneur
1.10Entrepreneur vs. Manager Relationship
1.11 Summary
1.12 Glossary
1.13 Self-Assessment Questions
1.14 Further Readings
1.0 INTRODUCTION
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...Disability in Uganda
By
Rebecca Namatovu1, Samuel Dawa, Fiona Mulira and Celestine Katongole Makerere University Business School Kampala, Uganda
ICBE-RF Research Report No. 31/12
Investment Climate and Business Environment Research Fund (ICBE-RF) www.trustafrica.org/icbe
Dakar, July 2012
1
Contact: rybekaz@yahoo.com
This research was supported by a grant from the Investment Climate and Business Environment (ICBE) Research Fund, a collaborative initiative of TrustAfrica and IDRC. It’s a working paper circulated for discussion and comments. The findings and recommendations are those of the author(s), and do not necessarily reflect the views of the ICBE-RF Secretariat, TrustAfrica or IDRC
Executive Summary This report addresses entrepreneurship activity among Persons with Disability in Uganda and their potential to contribute to economic development. Data was collected from Entrepreneurs with Disabilities (EWDs) in Kampala using mixed methods research. In the study we sought to answer questions about the environment, business activities EWDs are involved in, attitudes towards business, their motivations, challenges and growth aspirations. Key findings were that the majority of the EWDs are involved in retail trade. Most of them had started their own businesses using their own savings and had previously closed a business because it wasn’t profitable. Most of their businesses weren’t registered because they said they didn’t need to yet the majority of those whose......

...critically comment on the following blog written by fourth grade high school students in Ohio discussing entrepreneurship:
“ - Entrepreneurship is one of the most important parts of economics in a freeenterprise system. - An entrepreneur is a person that creates, organises and manages a business while trying to make a profit.

The first thing an entrepreneur needs to do is to think of an idea. They have to be inquirers so they can gather as much information as possible.
 
They need to constantly reflect on their decisions. They must be risk-takers because there is always a chance that their business will not succeed.

They must be open-minded when presenting their ideas and receiving feedback.

Entrepreneurs must be good communicators when sharing their ideas with investors and when advertising and promoting their company.

They must also be principled and caring towards their employees and customers.
- By being hardworking entrepreneurs, we all have the opportunity to be very successful.”
2
The essay examines the importance of entrepreneurship within the economy, core elements of entrepreneurship, and how entrepreneurial behaviour and certain character traits impact success. The investigation is based on statements about entrepreneurship given by fourth grade high school students in Ohio. The essay will argue that entrepreneurship is an essential part of economics in a free-enterprise system. Furthermore, it will point out that......

...The University of Nottingham
Faculty of Social Sciences
Nottingham University Business School
Student Name : Yousef Alawi Yaaqob Al-kaf
Student ID : 008290
Module Name : Entrepreneurship and Business
Module Code : N11440
Lecturer : Dr Kenny Wong Meng Seng
Due Date : December 6, 2012
The word entrepreneur originates from the French word, entreprendre, which means "to undertake.” The entrepreneur is the one who organizes, manages, and assumes the risks of a business or enterprise. Furthermore, an entrepreneur can also be defined as the innovator or developer who recognizes and utilizes opportunities; converts those opportunities into marketable ideas; adds value through time, effort, and money; and realizes the rewards from these efforts [1].
Entrepreneurs are creative in the form that they think and reason genuinely, are highly motivated and are equipped with the acute amount of knowledge to bring about innovative changes or ideas that can directly impact the economic development. They should possess the willingness to learn take risks as introducing new industries, products, and sectors will not be successfully implemented without having the self-confidence and self-reliance to do so. Ultimately, passion is one of the most vital quality of an entrepreneur because without it, these concepts will most likely be destined to fail eventually. Moreover, a famous motivational speaker and author said “A great leader’s courage to fulfill his vision comes...

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According to Maier, V., & Zenovia, C. P. (2011), entrepreneurship and intrapreneurship are similar because both involve an exclusive business theory that takes the form of a product, process, or service, both are ambitious by an specific supporter who works with a group to convey the perception to realization, both are based on worth formation and responsibility to a consumer, and both require possibility and necessitate risk management strategies.
Entrepreneurship would be a better advantage to me in my current career. Being entrepreneur is a challenging task to take on but the outcome will be lasting and fulfilling for my family and career. The purpose for me striving to be an entrepreneur is to set a foundation for my children to make their lives better and to give people a second chance that made mistakes in life due to environmental situations and or being young and lacking knowledge. Also I dislike the interviewing process and I personally never want my children to go through it and feel rejected; therefore, I am encouraging them to attend college and obtain a degree for the purpose of adding on to the family business or opening......

...Entrepreneurship
People say that life is not about money and that money cannot buy happiness. Have you ever seen some one on a jet ski that looks sad? While it may be true that money cannot directly buy happiness, money easily unlocks the doors for happiness. Whether it is a small business startup or it is a simple investment opportunity, seizing the moment can result in the option to retire early. Entrepreneurship is the ability to flip investments and businesses for a profit. Entrepreneurship is what allows me to work from home and be my own boss. Entrepreneurship is what lets me live life to its fullest without restrictions. Looking back at my short time in business, I have started a business before I was able to drive, I turned a hobby into a source of income and I have been able to help my parents with finances.
My first business venture came when I was 14 years old. I was very interested with making YouTube videos and how to get more views. I created my first website detailing the different methods on how to gain exposure on YouTube videos. It took me over a month to read up on web development and networking. I took the plunge and bought my first server to host my website. I implemented Google Analytics so I could watch how many viewers I was getting and what pages they were most interested in. After a couple of weeks of letting the site run on auto-pilot, I started to receive a few emails about creating websites and managing their web servers so I decided to start...

...What is entrepreneurship? Entrepreneurship is the process of starting a business. An entrepreneur develops a business plan and is fully responsible for the company’s survival. He or she is in charge of resources or manpower, if any.
What are the qualities of an entrepreneur? They are leadership, innovation in business and willing to take risks. They are willing to take on additional risks despite dealing with uncertainty. A risk taker, I would say. A good example of a successful entrepreneur would be Robert Kiyosaki, the author of Rich Dad Poor Dad. In his book, he taught about advocates financial independence and building wealth through various means such as investing and owning businesses. By reading his book, you are able to increase your financial intelligence. You can read his book to get a head start on entrepreneurship. As quoted from Rich Dad Poor Dad, “Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.” We must not be afraid to try. If we do not try, we do not know if we will be successful. There is a chance we might fail. But think of the positive side, there is a chance we will succeed. Positive mindset is very important being an entrepreneurship.
By going into entrepreneurship, you let money work for money instead of you working for money. It takes a lot of courage to start but once you are willing to work hard, your efforts would be paid off. Thank you....

...Introduction
Entrepreneurship is becoming of vital importance in the economies like Pakistan. Entrepreneurship is strongly related to small medium enterprise (SME), which is considered to be the main developing force of the developing economies market.
Previously many economists believed that it is the large firm which contributes in the developing of economies and attracts foreign exchange in the country. But there point of view changed when countries like Taiwan, Japan, and Korea established their economies on the bases of SMEs. These economies build up from grass root level to the heights of success.
According to Schapper (2006), in developing nations more than 90% of the firms fall under the category of SMEs and he also above than 90% of these firms are microenterprises. Pakistan is also one of the countries focusing on the development of SMEs. Almost 13 years ago Govt. of Pakistan established institution named SMEDA; small and medium enterprise authority, responsible for the guidance and the promotion of SMEs.
SMEs are very heterogeneous business operating in many different sectors such as trade, agri- business and manufacturing (Hussain et al, 2009). Pakistan is a very potential market for SMEs. Before very less or no importance is given on the business research which could attract many foreign investments. There are certain issues regarding the success and failures of SMEs which need to explore out and address.
What is Entrepreneur?
The term......

...2013).
This question has taken on urgency recently. In the past years studies carried out have indicated that there is what can be called an ‘entrepreneur gene’ or at least that people with certain genetic characteristics and personality traits are more likely to be more successful entrepreneurs than others (Kao and John, 1989).
Shane (2010) suggested that genes don’t just influence whether a person will start a business they might even determine how successful that person will turn out to be. In other words, some people are born to be alpha wolves and the rest will work in the mail room
James V. Koch professor at Dominion University as cited by Shane (2010) gave his point of view. He said because he is an academist he believed that entrepreneurship could be taught and this could be done with excellence, but after he carried out some research he discovered that entrepreneurs possess biological trait which are somewhat impossible to teach. He gave an example of risk taking and said there is no place in the world where risk taking is taught. This justifies that entrepreneurs are born.
Laser (1, 2007) was in line with Koch’s point of view and stated that “while certain proficiencies such as developing a business plan or finding sources of funding can be taught, the basic profile of the entrepreneur is deeply imbedded in the personality structure of the individual. And no matter how much specialized education and training is offered to a person, it will still come back to......